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How to price lots
Pricing lots correctly is very important. The range you set should be the value that you feel confident you can sell this lot for. Here are 5 key tips to pricing lots correctly:
1) Understand what the lot resale value means: It's the value you believe the lot will sell for (before applying your commission). Your client expects to get paid the Lot Resale Value minus the commission you set.
2) Understand what the range means: Because the market fluctuates and you can't promise an exact number, use the range field to give an estimated range ($ min & $ max) for which you're confident the lot will sell.
3) Base it off recently sold items on the marketplaces you sell on. (Don't base it off the price of listed items, but "sold" items)
4) Don't price lots too high. Keep it on the conservative side, it's always better to underpromise and overdeliver than overpromise and under deliver. Increasing the resale value to win the lot will result in negative client feedback. Only set a lot values that you're confident of. Think of it as a promise you want to deliver on.
5) It's okay if it's not exactly accurate. No one can predict the market, try to make the most educated estimate based on market comps.
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